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India lifts anti-dumping duty on PP import from Oman
07 Jan '14
1 min read
India has lifted the 6.5 percent anti-dumping duty imposed on import of polypropylene (PP) from Oman in November 2010, Indian Ambassador to the Sultanate, JS Mukul told reporters in Muscat, reports Times of Oman.
The decision of the Government of India would give relief to the state-run Oman Polypropylene Company, as India is a major market for Oman’s PP.
The latest decision is in accordance with the very strong economic and trade relations between India and Oman, and it would lead to a further growth in bilateral trade, particularly in non-oil exports from Oman to India, Mr. Mukul said.
From April to October 2013, bilateral trade between India and Oman was around US$ 3.65 billion, and it may cross the US$ 5 billion-mark for the ongoing Indian financial year 2013-14, he informed.
During the seven-month period, Omani exports to India rose by 91 percent year-on-year to around US$ 2 billion.
India’s major export items to Oman include textiles.
Fibre2fashion News Desk - India
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